Proactive Investors - Run By Investors For Investors

Anglo Asian to carry out first comprehensive survey of Gedabek area

An airborne geophysical study will be carried out over the coming weeks, the first survey of this type carried out in Azerbaijan
survey plane
Anglo wants to find new gold and copper targets for drilling

Anglo Asian Mining Plc (LON:AAZ) is to carry out an airborne geophysical survey over its Gedabek contract area in Azerbaijan as it looks to identify a pipeline of new gold and copper targets.

The survey, to be carried out by Canadian firm Geotech Limited, will cover the entire 300 square kilometre area and is expected to begin in the coming weeks.

AIM-quoted Anglo wants to discover new targets in order to enhance its production profile. The company is currently forecasting 2018 production of between 74,000 and 84,000 gold equivalent ounces.

It has proven in the past that it can move quickly from first discovery through to production, as shown by the Ugur open pit mine which took 11 months from discovery to gold pour.

“This is the first comprehensive survey not only of the entire Gedabek site but is the first of its type to be carried out in Azerbaijan,” said director of geology and mining Stephen Westhead.

“It is an important milestone in realising Gedabek's significant mineralisation potential. We are already aware of many gold and copper mineral occurrences at Gedabek, and this survey should provide information on mineralisation trends at depth, thus allowing for focused future ground-based follow-up work.”

View full AAZ profile View Profile

Anglo Asian Mining PLC Timeline

Related Articles

mine
February 07 2019
The plan is to get into profitable mining at about 30,000oz per year initially and see what the full potential might be as operations go deeper
Thor Explorations' Segilola high grade pit offers strong return on investment
June 13 2018
The 100% owned project sits on a 27 sq km exploration licence containing a 17 sq km mining licence
1522843655_shutterstock_102742847.jpg
October 25 2018
BAM East will be the focus in 2018, after Landore completed a £3.15mln funding

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use